ONEOK, Inc. (NYSE:OKE) Stock Holdings Raised by Tradition Wealth Management LLC

Tradition Wealth Management LLC increased its position in ONEOK, Inc. (NYSE:OKE) by 3.4% in the third quarter, Holdings Channel reports. The firm owned 6,718 shares of the utilities provider’s stock after purchasing an additional 221 shares during the quarter. Tradition Wealth Management LLC’s holdings in ONEOK were worth $612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in shares of ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after buying an additional 232,043 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ONEOK by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after buying an additional 132,326 shares during the period. International Assets Investment Management LLC grew its position in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the last quarter. Finally, abrdn plc lifted its holdings in ONEOK by 14.8% in the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock worth $195,545,000 after acquiring an additional 277,514 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of research reports. Citigroup increased their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company increased their target price on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Barclays upped their price target on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada upped their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $113.60 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm’s 50 day moving average is $100.75 and its 200-day moving average is $90.13. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $118.07. The stock has a market capitalization of $66.36 billion, a P/E ratio of 23.77, a P/E/G ratio of 5.75 and a beta of 1.66.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the company posted $0.99 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.08 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.49%. ONEOK’s payout ratio is presently 82.85%.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.